Want to receive this newsletter every weekday? Subscribe to POLITICO Pro. You'll also receive daily policy news and other intelligence you need to act on the day's biggest stories. FRANCE TO PUSH DIGITAL AGENDA DURING EU PRESIDENCY: French President Emanuel Macron goes before the European Parliament on Wednesday to lay out his goals and strategy for France's term as president of the EU over the next six months. A European official, speaking on condition of anonymity, told reporters France is expected to push for approval of two big pieces of the legislation – the Digital Markets Act and the Digital Services Act — that have aroused U.S. concerns during its presidency, as well as steps to increase EU sovereignty in areas such as climate, defense and social policy. France last held the rotating EU presidency 14 years ago. The current cycle comes as Macron is running for reelection in late April and both the U.S. and the EU are preparing to impose new sanctions if Russia ignores their warnings and invades Ukraine. France is expected to host the next ministerial level meeting of the U.S.-EU Trade and Technology Council during its presidency, although no date for that has been announced yet. There are currently no plans for a U.S.-EU summit during the French presidency, but there will be a meeting between EU and African leaders, the European official said. Export controls: Elsewhere, the U.S. and EU are seeking closer cooperation on export controls of high technology goods with potential security applications. However, that carries the risk of thwarting commercial sales. "The U.S. and EU should work collectively to ensure that any proposed export controls are targeted and tailored to the security threat at issue, agreed to at the multilateral level and do not detract from either economy's leadership on innovative technologies," the Information Technology Industry Council, a U.S. industry group, said in a set of comments filed last week with the Commerce Department. XI RAISES CONCERNS ABOUT FIGHTING INFLATION: Chinese President Xi Jinping on Monday expressed concern that an over-aggressive campaign by central banks to rein in inflation could hurt the global economy, especially in developing countries. "The global low inflation environment has notably changed, and the risks of inflation driven by multiple factors are surfacing," Xi said in a virtual speech to open the World Economic Forum's Davos Agenda. "If major economies slam on the brakes or take a U-turn in their monetary policies, there would be serious negative spillovers." Xi's comments came one week after a Labor Department report showed U.S. prices rose in 2021 by the highest percent in four decades, underscoring Federal Reserve Chair Jerome Powell's warning that inflation presented a "severe threat" to the recovery. In response, the Fed has quickly pivoted toward the prospect of as many as three interest rate hikes, possibly starting as early as March But if central banks react too strongly, "they would present challenges to global economic and financial stability, and developing countries would bear the brunt of it," Xi said. CPTPP bound: In the speech, Xi also reiterated China's interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement, "with a view to further integrating into the regional and global economy and achieving mutual benefit and win-win results." Xi also called on countries to "make generally acceptable and effective rules for artificial intelligence and digital economy on the basis of full consultation, and [work to] create an open, just and non-discriminatory environment for scientific and technological innovation." BUY AMERICA WAIVER WEBSITE DEBUTS: Nearly one year after Biden signed an executive order to crack down on waivers from the federal government's Buy American requirements, a new government website tracking the waiver requests is up and running. "This is a first step to getting better data on the extent and reasons for deviations from waivers from Buying American," Todd Tucker, director of governance studies, said on Twitter. In some cases, the information provided on the waiver requests is pretty scanty. "However, just having the product needed out in the public eye will give domestic manufacturers … a reason to contact the procuring agency," Tucker wrote. SWISS TO HOST MINI-MINISTERIAL: U.S. Trade Representative Katherine Tai will participate in virtual mini-ministerial on Friday hosted by the Swiss government focused on WTO issues. It's a tradition for Switzerland to hold the meeting every year on the fringes of the World Economic Forum, which is taking place virtually this week. Tai and Deputy USTR Sarah Bianchi are meeting today with South Korean Trade Minister Yeo Han-koo, who spoke on Monday with Canadian Trade Minister Mary Ng. Tai will participate in a virtual panel on Thursday at the World Economic Forum on "Restoring Trust in Global Trade and Supply Chains." | 
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